The housing market is facing an acute shortage of homes for sale, after the rush to beat the stamp duty deadline.
Zoopla has said that Britain is in the midst of its “greatest stock shortage since 2015” as the number of properties for sale in June dropped by 26.4% compared with the 2020 average.
In June, the number of homes changing hands rose to its highest level on record, with 213,120 sales registered with HMRC. Buyer demand is 20.5% above the 2020 average, with supply shortages “expected to run until 2022”. As a result, house price growth is forecast to remain strong.
“The headline rate of house price growth is running at 6% year-on-year and this is expected to moderate to between 4% and 5% by the end of the year,” Zoopla said in its monthly house price index.
